In order to capitalize on the great market potential of the MiTiHeart™ blood pump, MiTi^® made a strategic decision to spin off the blood pump technology and establish the MiTiHeart Corporation as a wholly owned subsidiary of Mohawk Innovative Technology, Inc. MiTiHeart Corporation was established as a Delaware 'C' corporation on February 5th, 2003 to develop and market unique blood pumps for patients suffering from congestive heart failure. A total of $15 Million technology investment has established the efficacy of the prototype MiTiHeart™ blood pump and has significantly reduced the technical risks. With patent protection of the novel idea behind the MiTiHeart™ LVAD, and collaborations developed with Hershey Medical Center, and other leading organizations. MiTiHeart Corporation is ready to move into the next phase and prepare the MiTiHeart™ LVAD for approval by the Food and Drug Administration (FDA). The original MiTi^® blood pump patents and the MiTiHeart™ trademarks have been exclusively licensed to MiTiHeart Corporation.

MiTiHeart Corporation is located in the Biotech Alley in Montgomery County, Maryland. Dr. Said Jahanmir was hired by MiTi^® as VP for Biotechnology to establish and lead MiTiHeart™ as President and CEO. With more than 30 years experience in R&D and technology management, Dr. Jahanmir is well suited to establish MiTiHeart™ as a leading LVAD company.